Amtek Auto shares were locked at 5 percent upper circuit at Rs 23.80 on Thursday after Liberty House, the global industrial and metals group, has chosen as preferred H1 bidder for buying company's assets.
There were pending buy orders of 319,003 shares, with no sellers available on the BSE, at 10:10 hours IST.
With this development, Liberty House is poised to make its maiden manufacturing presence in India. The company is part of the USD 10 billion GFG Alliance and is owned by Sanjeev Gupta, a British industrialist of Indian origin.
“Liberty House, part of Sanjeev Gupta's global industrial group GFG Alliance, is set to make a dramatic entry into India after being chosen as preferred H1 bidder for Amtek Auto Pvt Ltd assets which include 35 automotive component plants across India, Japan, Thailand and Spain, employing some 6,000 people,” the company said in a statement.
Missed call
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